Latent View Analytics' shares surged 20 percent on Thursday, continuing to climb to unprecedented heights following a blockbuster market debut. The stock of the Chennai-based data analytics company were locked in the upper circuit in late afternoon deals. This week, Latent View emerged the third best debutant of the year, after Sigachi Industries and Paras Defence.
The Latent View stock was locked in the 20 percent upper circuit on stock exchanges, having crossed the Rs 700 mark for the first time ever. It closed at Rs 702.4 on BSE and Rs 701.90 on NSE.
At the current level, the stock is up more than 3.5 times its issue price.
On Tuesday, Latent View Analysts shares listed at Rs 530 on BSE, a premium of 169 percent over the issue price. On NSE, the stock began its journey at Rs 512.2, a premium of 160 percent. That marked the first mainboard listing after that of Paytm parent One97 Communications, and KFC and Pizza Hut outlet operator Sapphire Foods.
Latent View is among the few companies whose IPO saw a phenomenal response from investors, especially high net worth individuals.
|IPO||Subscription (No. of times)||Listing premium (%)|
|Latent View Analytics||326.5||850.7||145.5||119.4||252.8|
|Paras Defence and Space Technologies||304.3||927.7||169.7||112.8||171.4|
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Last week, Latent View Analytics' initial share sale concluded with a subscription of 326.5 times the shares on offer. The Latent View Analytics IPO received bids for 572.2 crore shares against the 1.8 crore shares on offer. Shares were available for bidding under the IPO in the price band of Rs 190-197.
Latent View Analytics provides a slew of services ranging from data and analytics consulting to business analytics and insights, advanced predictive analytics, data engineering and digital solutions.